1952 Whitney Ave. Picture courtesy of CommercialEdge
Sendero Capital and Angelo Gordon have acquired 1952 Whitney Ave., a 53,120-square-foot medical workplace constructing in Hamden, Conn. Water Road Properties bought the Class B asset for $8.9 million, in accordance with New Haven County information. JLL represented the client.
That is the primary buy of the patrons’ three way partnership that was introduced at first of this month. The partnership will make investments as much as $300 million in outpatient actual property over the subsequent two years.
Over a 12-month interval ending in July, 31 medical workplace properties totaling 302,000 sq. toes have modified palms within the Bridgeport New Haven market, in accordance with CommercialEdge knowledge. Transactions amounted to $68.8 million.
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The property beforehand traded in 2019, when Water Road purchased the ability from Fusco for $6.3 million, with the assistance of a $5.1 million mortgage supplied by Bankwell Financial institution, CommercialEdge knowledge exhibits.
The four-story constructing got here on-line on roughly 3 acres in 1977 and underwent beauty renovations in 2018. The ability has two passenger elevators, managed entry, 162 parking areas, with one ground of the constructing situated underground. Providers supplied characteristic inner drugs, cardiology, endocrinology, dermatology, bodily remedy and podiatry.
88 p.c leased on the time of sale
Anchored by Hartford Healthcare and Yale New Haven Well being, the property was 88 p.c leased on the time of sale. The tenant roster additionally consists of Dermatology Physicians of Connecticut and Inner Medication of Higher New Haven, amongst others.
The ability is lower than 5 miles from downtown New Haven, between Route 15 and Interstate 91. CrossRoad Medical Heart, Hamden Surgical procedure and Medical Heart and Higher New Haven OB/GYN are a number of the space’s medical suppliers.
A JLL Capital Markets staff, led by Managing Director Brannan Knott and Director Anthony Sardo, represented the client.
